Budget 2023: Some interesting facts about the Union Budget
Union Finance Minister Nirmala Sitharaman will be presenting the Budget 2023-24 on February 1. RK Shanmukham Chetty presented the first Union Budget of independent India on November 26, 1947. On February 1, 2021, Sitharaman presented the first paperless budget due to the COVID-19 pandemic. Let’s take a look at some of the interesting facts to know about the key annual financial statement.
RK Shanmukham Chetty presented the first Union Budget of independent India on November 26, 1947. (Image: News18 Creative)
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India’s first-ever Budget was announced on April 7, 1860, in pre-independent India. James Wilson of the East India Company presented it to the British Crown. (Image: News18 Creative)
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Morarji Desai presented a total of 10 budgets – the highest by one person. Desai presented the Budget twice on his birthday on February 29 – a leap year – in 1964 and 1968. (Image: News18 Creative)
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In 2017, the Rail Budget was merged with the Union Budget. (Image: News18 Creative)
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Jawaharlal Nehru, Indira Gandhi and Rajiv Gandhi are the only Prime Ministers to have presented a Budget. (Image: News18 Creative)
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Until 1999, the Union Budget was announced at 5 pm on the last working day of February. Former Finance Minister Yashwant Sinha changed it to 11 am. (Image: News18 Creative)
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Till 2016, the Union Budget was presented on the last working day of February. Former Finance Minister (late) Arun Jaitley changed it to Feb 1 in 2017. (Image: News18 Creative)
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The lock-in that follows the ‘halwa ceremony’ is observed to maintain secrecy around the budget. (Image: News18 Creative)
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Former Prime Minister Manmohan Singh, during his stint as Finance Minister, delivered the longest budget speech in terms of word count in 1991. (Image: News18 Creative)
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Finance Minister Nirmala Sitharaman delivered the longest budget speech. She spoke for 2.42 hours while presenting the Union Budget 2020. (Image: News18 Creative)
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The Union Budget was leaked in the year 1950. Till then the Budget was printed at Rashtrapati Bhavan. After the leak, it had to be shifted to a press at the Minto Road in New Delhi. In 1980, a government was set up in the North Block’s basement. (Image: News18 Creative)
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On February 1, 2021, Finance Minister Nirmala Sitharaman presented the first paperless budget. This was done due to the ongoing COVID-19 pandemic in India. (Image: News18 Creative)
